Manappuram Finance launches digital money lending app

Seeking to tap into the growing digital lending sector, Kerala-based Manappuram Finance Ltd has launched Ma-Money, a new digital lending platform. The objective of introducing the app is to provide customers all the financial products offered by Manappuram Finance under one umbrella, a statement said.

A pioneer in digital gold loans, the company hopes that the new app will help it scale up its digital business and reach a wider audience. The app is primarily targeted at customers in tier 2 and tier 3 cities, it said.

Ma-Money offers a wide range of loans, including personal loans, business loans, consumer durables' loans, loans for the healthcare industry, food industry, small-scale industries, car loans, home repair loans, among others.

Commenting on the launch, V P Nandakumar, Managing Director and CEO of Manappuram Finance said that the company is always at the forefront in embracing technology to make life easier for the customers.

"We understand that our customers lead busy lives and want a quick and easy way to access the financial products they need. With Ma-Money, they can do just that, no matter where they are or what time it is," he said. The launch of Ma-Money is part of Manappuram Finance's broader strategy to expand its digital footprint and provide customers innovative and convenient financial products.

With the new app, customers can apply for loans, track their applications, and manage their accounts, all from their mobile devices. For customers in smaller cities and towns, Ma-Money represents a significant step forward in terms of financial inclusion, providing access to a wide range of loans and financial products that were previously unavailable to them, the statement added.